Ring of confidence for Optus

A day after splashing out for naming rights at Australia’s third biggest stadium in a controversial deal, Optus has recorded a jump in first-half earnings.

A DAY after splashing out for naming rights at Australia’s third biggest stadium in a controversial deal, Optus has recorded a jump in first-half earnings.

However, it comes as the Singapore-owned telco loses prepaid mobile customers while suffering a slowdown in growth among postpaid mobile customers.

And the first-half earnings growth has not translated into a net profit for the period as Optus continues to absorb the cost of investing heavily into its network and capabilities.

Optus, Australia’s second biggest telco, revealed yesterday it lost 24,000 prepaid mobile customers in the three months to September. It attracted 75,000 extra postpaid mobile subscribers during the quarter, compared with 107,000 extra in the same period a year ago.

Including mobile broadband subscribers, it now has 9.83 million mobile customers, up from 9.77m three months ago.

Optus was announced on Wednesday as the inaugural naming rights sponsor at Perth Stadium.

In a 10-year deal struck with the Labor government in Western Australia, the venue will use the trading name Optus Stadium.

Picture: ANNA ROGERS ON THE RISE: Optus CEO Allen Lew has overseen a jump in half-year profits for Australia’s second biggest, which now has 9.83 mobile customers. Optus has the naming rights sponsor of the new Perth Stadium.